Water Sector Privatisation
MayCap acted as financial advisor to Alkhorayef Water & Power Technologies (AWPT) in its bid for the Long Term O&M (LTOM) Contracts for several Sewage Treatment Plants packages in the Kingdom.
The LTOM packages consisted of potential rehabilitation, upgrade, financing, procurement, implementation, operation and maintenance of a number of existing sewage treatment plants with treatment capacity exceeding 1 million m3/day.
- Reviewed the Request for Proposals (the RFP) package received from the procurer
- Developed and maintained a base case financial model and related assumption book
- Assisted the Sponsors, in coordination legal Advisers, in the preparation of
amendments to the Project Agreements to cover any bankability issues and risk allocation
- Assisted the Sponsors in the mark up of draft project documents in conjunction with the Sponsors’ legal Adviser
- Performed sensitivity and scenarios analysis on the base case financial model based on technical, market, financial, tax and accounting assumptions
- Advised on the level and forms of sponsors support to the Project financing, including exploration of non-recourse debt financing and equity bridge loan;
- Explored options and strategies for the bid, financing structure, tariffs and terms and conditions for discussion with the Sponsors within the material limits of the timetable
- Closely worked with senior leadership (incl. CEO, CFO) in order to support AWPT in submitting the best bid possible.
Bid financial advisory support leading up to competitive bid submission and eventual financial close